What are Altcoins?
What are Altcoins?
Even though one name comes to mind when most people hear "cryptocurrency", there are hundreds of smaller coins serving different purposes. Some like Ripple (XRP) connects banks on a global scale, some like STEEM use social media blockchains and others like Ether (ETH) fuel their entire platform.
Altcoins are merely alternative coins to the first and most popular, Bitcoin. At the time of this writing CoinMarketCap list 728 currencies. Most of these are Bitcoin copies, only having minor alterations to code and algorithms. Others don't last nearly as long because of poor infrastructure or funding in a fast paced environment.
Altcoins allow developers to experiment with new features and further decentralize the entire market.
These alternatives are more volatile that Bitcoin because of their young market caps. They are also more prone to market manipulation tactics like "pump and dump". This occurs when a "whale" or investor holding a large quantity of the currency sells all of his shares for a massive profits. This tanks the price and leaves investors at major loses if not careful.
This is why its important to take your time and do your homework. It is not wise to invest in coins you don't understand. Study up and make sure they have legit backing and good teams with a promising vision. You don't want to hand over your hard earned money because you followed the "hype" of the next big Alton or ICO.
You can see every alt coin here. Applications like Shapeshift.io allow users to convert coins. So you can use Bitcoin to convert value into smaller alt coins, thus diversifying your digital portfolio.
After seeing the recent success of the Initial Coin Offering (ICO) sector of crypto, a thought popped into my head, “When will tech giants like Amazon, Google, and Facebook utilize a token economy?” Think about it, instead of these tech-behemoths going in and out of volatile currencies, why not make their own and peg their products and services in that native currency?
Blockchain is one of the hottest words of 2018. But who’s behind this technology? Check out this Infographic that lays our the career paths of the trailblazers leading the crypto engineering.
An overall review of Uphold, a cloud based financial services platform that enables anyone, anywhere in the world to move, convert, hold and transact in any form of money or commodity instantly and securely.
Op-Ed: “After graduating college many moons ago, one thing I learned in the “real” world as a trader/analyst is… financial markets do not function the same way as economic markets do. I found these markets driven by different motivating factors. Economic markets are measuring goods and services and the financial markets are measuring social mood.”
VeChain is a blockchain platform with extremely ambitious goals to develop a distributed ecosystem for businesses that will enable the movement of transparent and secure data, resulting in a more visible, trust-free, and collaborative system of business across numerous industries.
An in-depth look at how blockchain and initial coin offerings are radically transforming real-estate.
A transactional workflow, CPROP’s platform allows total transparency for all parties involved in a real estate transaction. As mentioned before, the traditional process of communication is headed by the agent. All parties rely on the agent to be available and accurate with information. Using the CPROP platform, parties are able to communicate with others involved in the transaction and update information in real time.
Check out this great beginner’s guide on Bitcoin and Blockchain technology!
Stellar Lumens is a peer-to-peer cryptocurrency and open source protocol for value exchange. Coins are “pre-mined” and the transfer of coins is based on an open source consensus algorithm, not managed by any central authority.
This is a key question to answer when analyzing markets… Do price drops bring on fear in investors, or does the fear inside investors make price drops?